Matt Drudge, increasingly a shill for Donald Trump, blares
out the headline: Trump Drives China
Crazy!
We turn to the Wall Street Journal story that Drudge links
and find that the finance minister of China, Lou Jiwei made the following
remarks:
Mr.
Trump has advocated imposing up to 45% tariffs on China as a way to force it to
change its trade policies. Mr. Lou, known in China for his bluff outspokenness,
said in an exclusive interview with The Wall Street Journal that such a tariff
would violate World Trade Organization rules. Under those conditions, he said,
the U.S. wouldn’t be entitled to its position as the world’s major power.
Mr.
Lou is correct on the trade rules, according to Jeffrey Schott, a
trade economist at the Peterson Institute for International Economics, a think
tank backing free trade.
“Almost
any across-the-board tariff increase would violate U.S. obligations under the
WTO,” he said.
You recall that Trump has declared that he would renegotiate
trade deals with China and that if China did not bow down to his superior will,
he would impose a 45% tariff on all Chinese goods coming into this country. We will mention, again, that
such a tariff would raise the price of everything at Walmart and many other
stores by 45%, which would represent a regressive tax on consumers.
Fortunately for the Teflon Don, his supporters have not
noticed, have not thought about it, or do not care. Being the Donald means you do not have to play by the rules. Don't you know that?
Why this suggests that Trump is driving China crazy escapes
me entirely.
Perhaps not "crazy", but they have to worry about him.
ReplyDeleteRemember, Drudge prints headlines, he doesn't ENDORSE them. (I may be mistaken, but that's the sense I get.)
China clearly has more to worry about than Trump.
ReplyDeleteAnd they probably also have a lot of their own billionaires prepared to cause trouble.
https://en.wikipedia.org/wiki/List_of_Chinese_by_net_worth In 2015 China has over 200 billionaires which puts the country second in the world, after the United States.
Trump might be a visionary - walls, tariffs, and internment camps.
FDR said the only thing we have to fear is fear itself, along with fearful billionaires and presidents I guess.